CHEVRON Canada has for now abandoned its plan to drill a deepwater exploration well that it had planned offshore Labrador in Orphan Basin.
The super-major said that the well, originally set to be drilled this year in block EL1076, about 250 miles north of St John’s, Newfoundland, is being postponed.
Chevron and its partners are still looking to hire a rig and are considering the possibility of a rig-sharing deal with one or more other operators.
Chevron’s first Orphan well, the Great Barasway F-66, was drilled in late-2006 at a cost of more than $200million.
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